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Rupee gains by another 37 paise vs US dollar
AGENCIES | Mumbai, April 3, 2012 12:50
Tags : Indian rupee | American currency | advanced further by 37 paise to 50.50 | late morning trade | persistent selling of dollars by banks | exporters | sustained foreign capital inflows | firm equity markets |
Tags : Indian rupee | American currency | advanced further by 37 paise to 50.50 | late morning trade | persistent selling of dollars by banks | exporters | sustained foreign capital inflows | firm equity markets |
The rupee advanced further by 37 paise to 50.50 against the American currency in the late Tuesday morning trade due to persistent selling of dollars by banks and exporters in view of sustained foreign capital inflows amid firm equity markets.
The rupee resumed higher at 50.65/66 per dollar at the Interbank Foreign Exchange (Forex) market as against the last Friday's close of 50.87/88 per dollar and shot up further to 50.50 before quoting at 50.60/61 per dollar at 1030 hrs.
The domestic currency hovered in a range of 50.50 per dollar and 50.70 per dollar during the morning deals.
Persistent selling of dollars by banks and exporters in view of continued foreign capital inflows into equity market mainly boosted the rupee value against the dollar, a forex dealer said.
In New York, the US dollar pared gains against the euro yesterday after a report showed strength in the US manufacturing sector, in contrast to one showing the sector weakened in Europe.
The forex and money market were closed yesterday for annual account closing.
The BSE benchmark Sensex rose by 105.66 points, or 0.60 per cent, to 17,583.81 in early trade.
Meanwhile, crude oil retreated in Asian early trade on Tuesday as investors took profits from overnight gains, while weak
euro-zone manufacturing data also pressured prices, analysts said.
New York's main contract, West Texas Intermediate crude for delivery in May, shed 28 cents to USD 104.95 per barrel.
Issue Dated: Feb 5, 2017
